Actual output cant exceed the economys potential in the short run but not in

Actual output cant exceed the economys potential in

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6.“Actual output can’t exceed the economy’s potential in the short run but not in the long run”’a. False b. True 7._____c___ was defined as “the amount by actual output in the short run exceeds the economy’s potential output?” (pg. 166/162)8.“The amount by which actual output in the short run falls short of the economy’s potential?”9.____c___ was defined as an “unexpected events that affect aggregate supply, sometimes only temporarily?” 10. “Labor is the most important resource, accounting for about 65% percent of production cost?” a.True b. False11. Wage measured in dollars of the year in question; the dollar amount on a paycheck was defined as nominal wage?” 12. ___b___ was defined as the wage measured in dollars in constant purchasing power; the wage measured in terms of the quantity of goods and services in buys.
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